County could be making progress bankruptcy deal

County could be making progress bankruptcy deal

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Commissioners Joe Knight (far left) and president David Carrington (center) met with general obligation creditors in Dallas, Texas to talk about a plan to exit bankruptcy. Source: WBRC video Commissioners Joe Knight (far left) and president David Carrington (center) met with general obligation creditors in Dallas, Texas to talk about a plan to exit bankruptcy. Source: WBRC video
BIRMINGHAM, AL (WBRC) -

Two Jefferson County commissioners believe the county is making progress on making a deal with creditors for a plan to exit bankruptcy.

Jefferson County has filed for bankruptcy in one of the largest bankruptcy filing is history, more than $4 billion dollars.

Wednesday, commissioners Jimmie Stephens and Joe Knight met with general obligation creditors in Dallas, Texas. Knight said the meeting went well.

"There are so many moving parts to the total plan and this is just a part. It represents half of the general obligation debt, creditors," Knight said.

The county is still negotiating with its sewer warrant creditors which hold the county's largest debt, some $3 billion. The county hopes to file a bankruptcy plan for a federal judge by June 1.

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